SOLUTION: If $24,000 is invested in an account for 30 years. Calculate the total interest earned at the end of 30 years if the interest is:
(a) 5% simple interest: $
(b) 5% compound
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Question 1195610: If $24,000 is invested in an account for 30 years. Calculate the total interest earned at the end of 30 years if the interest is:
(a) 5% simple interest: $
(b) 5% compounded annually: $
(c) 5% compounded quarterly: $
(d) 5% compounded monthly: $
Round your answers to the nearest cent.
Answer by ikleyn(52781) (Show Source): You can put this solution on YOUR website!
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Having so great interest to the subject, you may learn it from this lesson
- Compounded interest percentage problems
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